NatWest Graduate acc changing to Select acc - advice?

fakeplastictwee

Hi

I'm hoping someone can spell out what probably is already obvious but just want to double check something

Got a letter through the door this morning informing that my NatWest graduate account is changing to a Select account. They're reducing the interest free portion of my £1200 overdraft to £100 (I knew that was coming soon). It also quotes:

"Your arranged overdraft is interest-free up to £100 but if you exceed that amount then debit interest will be charge at a Nominal Annual Rate of 18.28% (19.89%EAR) on your entire balance, including the amount below the interest-free threshold of £100. Representative Example: Overdraft limit £1,200, Arrangement fee £0, Interest Rates 19.89%p.a. variable.

If an unarranged overdraft is created on your acount, you may be subject to Unarranged Overdraft fees and/or returned items fess."

My question is, if I were to overdraw by more than £100, would I only be paying interest on that or does the 'unarranged overdraft fee' apply here as well? Or does the fee only apply after the £1200? I'm not planning on using it but just want to make sure in case.

Thanks in advance.

papercoins

Hello,

I work for Natwest I can help.
If you do go overdrawn you have a £1,200 overdraft facility, you can use up to and including £100 of your £1,200 facility and not have to pay any interest on using it. If you go overdrawn by more than £100 you will have to pay interest on the amount you are overdrawn (the first £100 is no longer interest free)

If you go over your £1,200 limit you wil get a charge as well as having to pay interest. (£6 every day you're over your £1,200 limit)

Does this help?

Regards

stclair

The information papercoins has provided is correct however if you require any information regarding your overdraft.

You should call 02380 226443 press option 2 then option 3 and someone will be able to assist you.